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1.3: The Importance of Product Knowledge

For many, product knowledge is simply a list of facts and figures. But for a sales professional, it's a critical tool for building credibility and confidence. When you know your product deeply, you can answer any question, handle any objection, and confidently show a customer exactly how you can help them. This expertise is what separates a good salesperson from a great one.

1. The Difference Between Features and Benefits

This is the most crucial concept in understanding product knowledge. Customers don’t buy products; they buy solutions to their problems. They don't care about what your product is (its features) as much as they care about what it does for them (its benefits).

Features:

These are the facts about your product or service. They describe what it is or what it has.

Example: "This phone has a 12-hour battery life." or "Our software has a dashboard with real-time analytics."

Benefits:

These are the positive outcomes the customer will experience because of the features. They explain the "What's in it for me?"

Example: "The 12-hour battery life means you won't have to worry about your phone dying during a long day, so you can stay connected and productive." or "The real-time analytics dashboard helps you make faster decisions, saving your team hours of work and increasing efficiency."

*Your job is to always translate features into benefits. When you talk about a feature, you must immediately connect it to a positive outcome for the customer.

2. How to Master Your Product Knowledge

True product knowledge goes beyond reading a brochure. To become an expert, you must:

01 Use the Product Yourself:

If possible, use your product or service as a real customer would. This gives you firsthand experience with its strengths and weaknesses and allows you to speak with genuine authority.

02 Understand the Problem It Solves:

Go beyond the product itself. What specific pain points does it solve for your customer? What problems did the creators have in mind when they built it? This context is critical for connecting with a customer on a deeper level.

03 Study Your Competition:

Knowing your product also means knowing the market. Understand your competitors' features, benefits, strengths, and weaknesses. This allows you to confidently articulate your unique selling proposition (USP) and handle objections about other options.

04 Listen to Your Customers:

Pay attention to the questions your customers ask. What are they most concerned about? What are their biggest pain points? The best way to learn what a customer values is to listen to them.

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1.3: The Importance of Product Knowledge

1. The Difference Between Features and Benefits

Features:These are the facts about your product or service. They describe what it is or what it has.

Example: "This phone has a 12-hour battery life." or "Our software has a dashboard with real-time analytics."

Benefits:These are the positive outcomes the customer will experience because of the features. They explain the "What's in it for me?"

Example: "The 12-hour battery life means you won't have to worry about your phone dying during a long day, so you can stay connected and productive." or "The real-time analytics dashboard helps you make faster decisions, saving your team hours of work and increasing efficiency."

2. How to Master Your Product Knowledge

01

Use the Product Yourself: If possible, use your product or service as a real customer would. This gives you firsthand experience with its strengths and weaknesses and allows you to speak with genuine authority.

02

Understand the Problem It Solves: Go beyond the product itself. What specific pain points does it solve for your customer? What problems did the creators have in mind when they built it? This context is critical for connecting with a customer on a deeper level.

03

Study Your Competition: Knowing your product also means knowing the market. Understand your competitors' features, benefits, strengths, and weaknesses. This allows you to confidently articulate your unique selling proposition (USP) and handle objections about other options.

04

Listen to Your Customers: Pay attention to the questions your customers ask. What are they most concerned about? What are their biggest pain points? The best way to learn what a customer values is to listen to them.

Features:

These are the facts about your product or service. They describe what it is or what it has.

Benefits:

These are the positive outcomes the customer will experience because of the features. They explain the "What's in it for me?"

Use the Product Yourself:

If possible, use your product or service as a real customer would. This gives you firsthand experience with its strengths and weaknesses and allows you to speak with genuine authority.

Understand the Problem It Solves:

Go beyond the product itself. What specific pain points does it solve for your customer? What problems did the creators have in mind when they built it? This context is critical for connecting with a customer on a deeper level.

Study Your Competition:

Knowing your product also means knowing the market. Understand your competitors' features, benefits, strengths, and weaknesses. This allows you to confidently articulate your unique selling proposition (USP) and handle objections about other options.

Listen to Your Customers:

Pay attention to the questions your customers ask. What are they most concerned about? What are their biggest pain points? The best way to learn what a customer values is to listen to them.